Lancashire Holdings

Director's Dealing • Mar 4, 2016

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LANCASHIRE HOLDINGS LIMITED - Clarification - Director/PDMR Shareholding

PR Newswire

London, March 4

Clarification: Notification of Transactions of Directors/Persons Discharging

Managerial Responsibility and Connected Persons

(Note: This release consolidates and supplements information contained in the two RNS releases made on 3 March 2016 regarding dealings of Elaine Whelan and Kilian Whelan)

1.	Name of the issuer Lancashire Holdings Limited	2.	State whether the notification related to (i) a transaction notified in accordance with DTR 3.1.2 R, (ii) a disclosure made in accordance with LR 9.8.6R(1) or (iii) a disclosure made in accordance with section 793 of the Companies Act (2006) (i) a transaction notified in accordance with DTR 3.1.2 R
3.	Name of the person discharging managerial responsibilities/director Elaine Whelan (Executive Director and Group Chief Financial Officer)	4.	State whether notification relates to a person connected with a person discharging managerial responsibilities/director named in 3 and identify connected person Connected person Kilian Whelan (Spouse)
5.	Indicate whether the notification is in respect of a holding of the person referred to in 3 or 4 above or in respect of a non-beneficial interest Persons referred to at 3 and 4 above.	6.	Description of shares (including class), debentures or derivatives or financial instruments relating to shares Common Shares of US$0.50 each
7.	Name of registered shareholder(s) and, if more than one, the number of shares held by each of them (1)           Elaine Whelan – 284,569 (pre-transaction) (2)           Kilian Whelan – 2,600 (pre-transaction)	8.	State the nature of the transaction (1)           Purchase of 29,500 shares (2)           Purchase of 8,990 shares
9.	Number of shares, debentures or financial instruments relating to shares acquired (1)          29,500 shares (2)          8,990 shares	10.	Percentage of issued class acquired (treasury shares of the class should not be taken into account when calculating percentage) (1)           0.0148% (2)           0.0045%
11.	Number of shares, debentures or financial instruments relating to shares disposed N/A	12.	Percentage of issued class disposed (treasury shares of the class should not be taken into account when calculating percentage) N/A
13.	Price per share or value of transaction (1)           29,500 at £5.6125 per share (2)           8,990 at £5.551931 per share	14.	Date and place of transaction (1)           1 March  2016 – London, England (2)           3 March 2016 – London, England
15.	Total holding following notification and total percentage holding following notification (any treasury shares should not be taken into account when calculating percentage) Elaine Whelan (Executive Director) 325,659 (includes 11,590 via connected person Kilian Whelan – including the 8,990 shares notified in this release) (0.1632%)	16.	Date issuer informed of transaction 3 March  2016

If a person discharging managerial responsibilities has been granted options by the issuer complete the following boxes
17.	Date of grant	18.	Period during which or date on which exercisable
19.	Total amount paid (if any) for grant of the option	20.	Description of shares or debentures involved (class and number)
21.	Exercise price (if fixed at time of grant) or indication that price is to be fixed at the time of exercise	22.	Total number of  shares or debentures over which options held following notification

23.	Any additional information In addition to the securities noted in question 15 above, Elaine Whelan  also holds the following interests in the Company: Restricted Share Scheme Awards Bonus Deferral Plan – 50,551 (vesting is subject to time and employment conditions only) Restricted Share Scheme Awards– 515,307* *Pursuant to the Rules of the Restricted Share Scheme, the number of shares that will actually vest depends on the satisfaction of certain conditions including employment, performance and time conditions.  Note: This release consolidates and supplements information contained in the two RNS releases made on 3 March 2016 regarding dealings of Elaine Whelan and Kilian Whelan	24.	Name of contact and telephone number for queries Christopher Head  +44 (0)20 7264 4145

Name of authorised official if issuer for making notification

**Christopher Head

Company Secretary

4 March 2016**